Brokerages Set Fabrinet (NYSE:FN) PT at $252.14

Shares of Fabrinet (NYSE:FN) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $252.14.

A number of analysts recently issued reports on the company. Barclays began coverage on Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 target price for the company. Needham & Company LLC initiated coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th.

Fabrinet Stock Up 0.8 %

Shares of FN stock opened at $247.86 on Friday. Fabrinet has a 12-month low of $159.69 and a 12-month high of $278.38. The firm has a fifty day moving average of $245.00 and a 200-day moving average of $238.14. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 29.33 and a beta of 0.92.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. Research analysts expect that Fabrinet will post 9.1 earnings per share for the current year.

Institutional Trading of Fabrinet

Several institutional investors and hedge funds have recently bought and sold shares of FN. Huntington National Bank increased its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet in the second quarter valued at $49,000. NBC Securities Inc. increased its holdings in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fabrinet during the third quarter worth $52,000. Institutional investors own 97.38% of the company’s stock.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.